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01-03-2019, Goodwill Properties, Section 132, 139, 153A, Tribunal Mumbai

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2 months 2 weeks ago #8735 by amit
Section - 132, 139, 153A
Order Date - 01-03-2019
Favouring - Assessee
Court - Tribunal Mumbai
Appellant - DCIT
Respondent - Goodwill Properties Pvt. Ltd.
Citation - 219Taxpundit165
Appeal No. - I.T.A. No.4023 & 4026/Mum/2016
Asstt. Year - 2008-09 & 2009-10


PER : Sandeep Gosain

The present two appeals have been filed by the revenue are against the order of Commissioner of Income Tax (Appeals)-47, Mumbai dated 14.03.16 for AY 2008-09 & 2009-10 respectively.

2. Since, the facts raised in both the appeals filed the revenue are identical, therefore for the sake of convenience; they are clubbed, heard and disposed of by this consolidated order.

3. First of all we take up appeal in ITA No. 4023/Mum/2016 filed by revenue for AY 2008-09 on the grounds mentioned herein below:-

1) "On the facts and in the circumstances of the case and in law, the Id CIT(A) erred in deleting the addition of on-money of Rs. 3,87,28,6801- received on sale
offlats relying on the observation and decision in the case of ACIT vs. Janak Raj Chauhan (102 TTJ 316) (Amritsar) and Maheshwari Industries vs. ACIT (148 Taxman 74 (Jodh.) (Mag)) without appreciating the facts that the addition was made on the basis of the statement of the Director Shri Haresh Mohanalal Mehta and three key employees of the assessee group namely Ms. Chaula Joshi (Sales and Marketing Executive of Rohan Group) and Mr. Vijay Jasani (Accountant of the Rohan Group) and also of Mr. Paresh Panchlotiya (Office Assistant/Liaison Officer) during the course of search. The CIT(A) further failed to appreciate that the Rohan Group had been searched earlier too on 10.08.2006 and even during the course of that search, the same Ms. Chaula Joshi had admitted to the fact that the group executed sales deed by accepting on money in cash which was over and above the agreement price."

The appellant prays that the order of the CIT(A) on the above grounds be set aside and that of the Assessing Officer be restored.

The appellant craves leave to amend or alter any ground and/or add new grounds which may be necessary.

4. The brief facts of the case are that the Rohan Group of entities alongwith Directors, family members and related parties were subject to search and seizure operation u/s 132 on 26.05 2011. The assessee company was also associated with the said group.

As per the impugned order, for A.Y. 2008-09, the assessee filed its original return of income u/s 139 on 30.09.2008 declaring total income at Rs.4,71,17,350/-. Original assessment u/s 143(3) was completed vide order dated 31.12.2010 making disallowances of Rs.4,37,414/- comprising personal element of conveyance, telephone and foreign travel expenses. Pursuant to the search, return for the same year was filed in response to notice u/s 153A on 04.03.2013 declaring income at Rs.4,74,54,730/-. The return was taken up for scrutiny thereafter. Assessment u/s 143(3) r.w.s 153A for A.Y. 2008-09, was completed vide assessment order dated 29.03.2014 determining total income at Rs.8,63,02,410/- on account of addition of 'onmoney' of Rs. 3,87,28,680 and disallowance of additional claim of Rs.1,18,997/-.

Aggrieved by the order of AO, assessee preferred appeal before Ld. CIT(A) and Ld CIT(A) after considering the case of both the parties, partly allowed the appeal of the assessee and deleted the additions.

Now before us, the revenue has preferred the appeals for respective years. However at present we are dealing with the appeal filed by the revenue bearing ITA No. 4023/Mum/2016 on the grounds mentioned herein above

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